There are a number of chains out there that are holding, or will soon be holding, liquidity bootstrapping events. These include
Harmony
Avalanche
Fantom
Moonriver
I think BSC?
Some of these chains already support UST (it’s been on Pancakeswap forever, for instance).
But UST isn’t present everywhere. Trader Joe on avalanche? No UST. Solarbeam on Moonriver? No ust. That’s why I think these chains are prime candidates for this sort of campaign, as opposed to IBC where UST is going to happen whether we subsidize it or not (though I still support matching incentives when offered).
Should we be exploring setting up pools on the top exchanges on these platforms, to take advantage of these liquidity programs?
For instance, if we got the Solarbeam team on board with it, the pool would be getting
SOLAR liquidity incentives from Solar’s supply
MOVR liquidity incentives (once the Moonriver liquidity event starts, hasn’t quite been announced yet)
UST liquidity incentives from the community pool
And then UST could compete with USDC for the status of top stablecoin on Moonriver, which is a brand new network, presumably without a stablecoin preference yet.
On top of that, Terra announcing a 150 million dollar liquidity mining program (something like 5% ish of the community pool, after the Ozone burn) would be a headline grabbing announcement.
Note - While Terra doesn’t have bridges to any of these chains (to my knowledge), we do have Wormhole to Eth, which in turn bridges to all of them.
Here are some pool depths for USDC on these chains
Trader Joe (Avax), USDC<>Avax - $152 million
Solarbeam (Moonriver) USDC<>MOVR - $6.3 million (don’t let the size fool you, Moonriver is very new)
Spiritswap (Fantom) USDC<>FTM - $27 million
Why Liquidity Incentives?
Liquidity incentives could create similarly sized pools of UST, which is a lot of UST. And once there’s a lot of UST available in an ecosystem
1 - Dapp developers will consider integrating it
2 - People will choose to hold it, in lieu of other stablecoins